TECH - Not Nvidia Or Meta: Hedge Fund Titan Bill Ackman Sees Lucrative Opportunity In This 'Magnificent 7' Stock | Benzinga
Bill Ackman, the founder of Pershing Square Capital Management, has expressed his confidence in Alphabet Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG), the parent company of Google, as a lucrative investment opportunity.
What Happened: Ackman, in a recent conversation with computer scientist and tech YouTuber Lex Fridman last week, shared his positive outlook on Alphabet. When asked about his analysis of the tech giant, Ackman highlighted the company’s strong position in the market, particularly in the field of AI.
"So it's a business we've admired as a firm for, whatever, 15 years, but rarely got to a price that we felt we could own it," he said, adding, "Because again, the expectations were so high and price really matters."
He then spoke about the "AI scare," when Microsoft Corporation backed OpenAI, and came up with ChatGPT, and people started talking about "this most incredible product." On the other hand, there was Google, which had been working on AI long before.
"Microsoft was behind ...